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OFFICE OF INSURANCE REGULATION

Dr. Eric D. Johnson, Office of Insurance Regulation Deputy Commissioner of Life and Health, recently resigned to take a position at AvMed, a Florida HMO and a sister company of Santa Fe Senior Living which owns and operates three Florida CCRCs, two of which are Life Plan communities. The Continuing Care Retirement Community Section falls under Life, Health and Financial Oversight. Dr. Johnson’s replacement has not been named.

Click here for a recently released organizational chart of staff responsible for the regulatory oversight of CCRCs.

Report Published on CCRC Contracts
By Mary Ellen Early
Continuing care contracts have been a topic of interest in Florida and elsewhere for some time. When LeadingAge Florida and FLiCRA were working on a proposed bill for the 2015 Legislative Session, we were surprised to learn about the diversity of continuing care business models. We found that many continuing care retirement communities that historically offered only traditional declining balance Type A contracts now offer more than one option including refundable entrance fee, fee-for-service and rental contracts. Much of the diversification occurred during the great recession which forced CCRCs to creatively address the financial challenges of prospective residents who were reluctant to relocate because of declining home values and concerns about income from investments. Although the economy has rebounded, rentals still remain an option for some Florida CCRCs, accounting for approximately 12% of independent living units.Read More

Update on Implementation of 2015 CCRC Law (HB 749) and More

CCRC Contract Reviews

Response to OIR Memo about CCRC Contract Status Due on November 20, 2015

Proposed Changes to Medicaid Reimbursement Rules – Input Requested for November 16, 2015 Rule Development Workshop
Last week, the Agency for Health Care Administration published a Notice of Development of Rulemaking. The notice covers three rules. A rule development workshop is scheduled for November 16, 2015 in Tallahassee from 2:00 - 4:00 PM. LeadingAge Florida staff will be in attendance and will convey your comments. Read More

CCRC Financial Benchmarking Webinar Provides Additional Analysis of Data Available from Annual ReportsA detailed analysis of the data submitted by CCRCs to OIR in annual reports will be presented by LeadingAge Florida business affiliate Moore Stevens Lovelace, CPAs & Advisors during a November 17, 2015 CCRC Financial Benchmarking webinar. Read More

Change in Office of Insurance Regulation Personnel
Effective September 23, 2015, Becky Griffith, OIR Financial Examiner/Analyst Supervisor, moved to the Office of the Insurance Consumer Advocate.Read More

CCRC Law Takes Effect October 1, 2015CS/HB 749, the continuing care retirement community bill that passed during the 2015 legislative session, takes effect on October 1, but most of the contract changes apply to contracts entered into on or after January 1, 2016. Read More